I was interested in a headline in the Jersey Evening Post yesterday that read:
THE Island’s financial industry is arguably more transparent than those in the UK and the US and offshore centres like Jersey help to boost international investment, a report published by an accomplished economist has claimed.
Diego Zuluaga, a policy analyst at the Cato Institute, based in Washington DC, has published a paper called Offshore Bet defending the role of offshore finance centres, such as Jersey, which are often criticised and labelled ‘tax havens’.
Now, I admit I have ever never heard of the accomplished person in question. But I have most certainly heard of the Cato Institute: it is a far right market fundamentalist think tank that has much regard for Trump but, I suspect, really thinks him a left winger. And the JEP notes:
The report says that offshore centres are often wrongly accused of the illegal activity of tax evasion and adds that they play an important economic role.
And how independent was this finding? Not very: